Page 6 - General Insurance

Top headlines: WPI inflation eases to 5-month low; Go Digit files for IPO

Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets its dairy products under the Amul brand, on Tuesday increased prices of its Gold, Taaza and Shakti milk brands by Rs 2 per litre.

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5% to 4% for 2022-23. The impact of the reduction on GIC Re will be Rs 2,000 crore

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5 per cent to 4 per cent for FY23. The impact of the reduction on GIC Re would be around Rs 2,000 crore

Planning to buy an insurance policy? Here is what you need to know

There are three main components of an insurance policy: premium, sum assured and deductibles

Insurance stocks: Analysts see decent upside in HDFC Life, ICICI Lombard

Though Q1 was disappointing, there are triggers that could lead to improvement in the performance of the two insurers

IRDAI constitutes two task forces on issues of reinsurance support

The terms for reference for the task force include issues discussed by the industry players with Irdai in the recently concluded bi-monthly meeting with the top honchos of the general insurance firms

NICL picks Cognizant for accelerating, managing its digital transformation

NICL is one of India's leading public sector general insurance companies

Irdai eases solvency margin requirement for insurers underwriting crop biz

It is estimated that the Insurance Regulatory and Development Authority of India (Irdai)'s move to ease solvency margin will unlock nearly Rs 1400 crore.

Irdai extends 'Use & File' procedure to health and general insurance plans

Currently, insurance companies have to obtain prior approval from the insurance regulator to launch new products

IRDAI eases approval norms for health, general insurance products

Irdai has tweaked 'Use and File' procedure for all health insurance products and almost all the general insurance products in line with the reform agenda taken up towards having a fully insured India

Opt for critical illness plan with lower survival period clause: Experts

CI plans generally offer global coverage. "Even if the insured is diagnosed with a CI outside India, this plan will make a pay-out," says Vivek Gambhir, a product head at Tata AIG General Insurance

Life insurance: Homemakers must have a term cover of least Rs 20-50 lakh

Homemakers Insurance: Declaring any form of income, like rent, that the homemaker earns can help her get a higher sum assured

CCI approves deal for selling stakes in Magma General Insurance Company

Fair trade regulator CCI has cleared the proposed acquisition of majority stake in Magma HDI General Insurance Company Ltd by Sanoti Properties LLP. Sanoti is into the business of development of commercial and residential real estate projects. As per a notice filed with the Competition Commission of India (CCI), the proposed combination is being undertaken in order to ensure compliance with the mandatory regulations of the Insurance Regulatory and Development Authority of India (IRDAI). CCI has approved "acquisition of 55.39 per cent of the total equity share capital of Magma HDI General Insurance Company Limited by Sanoti Properties LLP," according to a tweet on Wednesday. Under the deal, Sanoti would acquire shares constituting 55.39 per cent of the total equity share capital of Magma HDI. It would also involve buying shares of Magma HDI held by certain shareholders -- Poonawalla Fincorp Ltd and Serum Institute of India Pvt Ltd. Transactions beyond certain thresholds require the

State-run general insurers may get capital infusion of Rs 3,000-5,000 cr

The capital infusion would help improve the financial health of the general insurance firms -- National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company

Govt-owned insurers go for organisational rejig, look for consultants

Four general insurers have decided to restructure the organisation towards profitable growth and have called for Request for Proposal (RFP) from consultancy firms

General insurance industry's GDPI to grow by 10-12% in FY23: Report

The rise is led by higher growth in the health and commercial business segments with increasing awareness of medical insurance and uptick in economic activity, Icra Ratings said in a report

Buy optimal mix of base plan and super top-up to check cost of health cover

If your insurer has hiked the premium rate excessively, consider porting

Term insurance necessity for women, add critical illness cover: Experts

Most insurance experts concur that women don't buy term insurance - one policy that can provide adequate protection - in large enough numbers

ED slaps Rs 80-cr fine on Magma HDI, Sanjay Chamria, Mayank Poddar

The total amount of penalty of Rs 80 crore is to be deposited within 45 days from the date of receipt of this order

MFIN to launch natural catastrophe insurance cover for micro borrowers

The MicroFinance Institutions' Network is planning to introduce this product with Cholamandalam MS General Insurance as insurer